ALLAMA IQBAL OPEN UNIVERSITY, ISLAMABAD

(Department of Busness A!mnstraton"

TA#ATION MANA$EMENT (%&'"
()E(*LIST
SEMESTER+ AUTUMN ,'-'
This packet comprises the following material:
1. Text Books (two)
2. Course Outline
3. ssignment !o. 1" 2
#. ssignment $orms ( 2 sets)
%n this packet" if &ou fin' an&thing missing from the a(o)e mentione' material" please
contact at the a''ress gi)en (elow:
T.e Ma/n0 Off1er,
Ma/n0 Se1ton, B/o12 3 ,4,
A//ama I56a/ Open Un7erst8,
)94, Is/ama6a!:
Ma.moo!9u/9)asan
(ourse (oor!nator
ALLAMA IQBAL OPEN UNIVERSITY ISLAMABAD
(Department of Busness A!mnstraton"
;ARNIN$
-: PLA$IARISM OR )IRIN$ O< $)OST ;RITER(S" <OR SOLVIN$
T)E ASSI$NMENT(S" ;ILL DEBAR T)E STUDENT <ROM A;ARD
O< DE$REE=(ERTI<I(ATE, I< <OUND AT ANY STA$E:
,: SUBMITTIN$ ASSI$NMENTS BORRO;ED OR STOLEN <ROM
OT)ER(S" AS ONE>S O;N ;ILL BE PENALI?ED AS DE<INED IN
@AIOU PLA$IARISM POLI(YA:
(ourse+ TaBaton Mana0ement (%&'" Semester+ Autumn ,'-'
Le7e/+ MBA Tota/ Mar2s+ -''
ASSI$NMENT No: -
(Unts+ -CD"
Note: All questions carry equal marks.
*. 1 +iscuss )arious issues of $e'eral Bu'get 2,1,-11 relate' to 'irect an' in'irect tax.
*. 2 (a) /h& 0T is (eing critici1e' in 2akistan (& )arious sectors of econom&.
(() +irect tax an' in'irect tax are ma3or sources of go)ernment re)enue.
/hich one" in &our opinion" is (etter for our countr&.
*. 3 4ou are gi)en a task to suggest ma3or amen'ments in )arious hea's of income.
2repare a 'etaile' report in this regar'.
*. # Criticall& re)iew the )arious assessment proce'ures.
*. 5 +iscuss )arious pro)isions regar'ing filing of tax return (& )arious categories of
assesses.
$UIDELINES <OR ASSI$NMENT No: -
4ou shoul' look upon the assignments as a test of knowle'ge" management skills" an'
communication skills. /hen &ou write an assignment answer" &ou in'icate &our
knowle'ge to the teacher:
4our le)el of un'erstan'ing of the su(3ect6
7ow clearl& &ou think6
7ow well &ou can reflect on &our knowle'ge an' experience6
7ow well &ou can use &our knowle'ge in sol)ing pro(lems" explaining situations
an' 'escri(ing organi1ations an' management6
7ow professional &ou are" an' how much care an' attention &ou gi)e to &our
profession.
To answer a 8uestion effecti)el&" a''ress the 8uestion 'irectl&" (ring important relate'
issues into the 'iscussion" refer to sources" an' in'icate how principles from the course
materials appl&. 4ou must also (e a(le to i'entif& important pro(lems an' implications
arising from the answer.
2
$or citing references" writing (i(liographies an' formatting the assignment" 2 format
shoul' (e followe'.
ASSI$NMENT No: ,
(Unts+ -CE" Tota/ Mar2s+ -''
This assignment is a research-oriente' acti)it&. 4ou are re8uire' to o(tain information
from a (usiness9commercial organi1ation an' prepare a report of a(out 1,,, wor's on
the issue allotte' to &ou to (e su(mitte' to &our teacher for e)aluation.
4ou are re8uire' to select one of the following issues accor'ing to the last 'igit of &our
roll num(er. $or example" if &our roll num(er is 2-3#2:1;, then &ou will select issue < ,
(the last 'igit):-
Issues+
1. Tax relate' issues of a salarie' in'i)i'ual
2. Tax relate' issues of a compan&
3. pplication of legal pro)isions regar'ing filing of return of income
#. =e)& of exemption from an' repa&ment of custom 'uties
5. =egal pro)isions regar'ing filing of return of income
>. ?et off an' carr& forwar' of losses
:. 2roce'ure for refun' of tax
;. @egistration for sales tax
A. Bxemptions pro)i'e' in sales tax
,. Bxercise of powers )este' in the han's of income tax authorities
T.e report s.ou/! .a7e t.e fo//oFn0 format+
1. Title page
2. cknowle'gements
3. n a(stract (one page summar& of the paper)
#. Ta(le of contents
5. %ntro'uction to the issue ((rief histor& C significance of issue assigne')
>. 2ractical stu'& of the organi1ation (with respect to the issue)
:. +ata collection metho's
;. ?/OT anal&sis (strengths" weaknesses" opportunities C threats) rele)ant to the
issue assigne'.
A. Conclusion (one page (rief co)ering important aspects of &our report)
1,. @ecommen'ations (specific recommen'ations rele)ant to issue assigne')
11. @eferences (as per 2 format)
12. nnexes (if an&)
$u!e/nes for Ass0nment No: ,+
1.5 line spacing
Dse hea'ers an' su(hea's throughout all sections
Organi1ation of i'eas
/riting skills (spelling" grammar" punctuation)
2rofessionalism (rea'a(ilit& an' general appearance)
+o more than repeat the text
Bxpress a point of )iew an' 'efen' it.
3
;or2s.ops+
The workshop presentations pro)i'e &ou opportunit& to express &our communication
skills" knowle'ge an' un'erstan'ing of concepts learne' 'uring practical stu'& assigne'
in assignment !o. 2.
4ou shoul' use transparencies an' an& other material for effecti)e presentation. The
transparencies are not the presentation" (ut onl& a tool6 the presentation is the
com(ination of the transparencies an' &our speech. /orkshop presentation transparencies
shoul' onl& (e in t&pe' format.
T.e transparen1es s.ou/! fo//oF t.e fo//oFn0 format+
1. Title page
2. n a(stract (one page summar& of the paper)
3. %ntro'uction to the issue ((rief histor& C significance of issue assigne')
#. 2ractical stu'& of the organi1ation (with respect to the issue)
5. +ata collection metho's
>. ?/OT anal&sis (strengths" weaknesses" opportunities C threats) rele)ant to the
issue assigne'.
:. Conclusion (one page (rief co)ering important aspects of &our report)
;. @ecommen'ations (specific recommen'ations rele)ant to issue assigne')
$u!e/nes for ;or2s.op Presentaton+
Eake e&e contact an' react to the au'ience. +onFt rea' from the transparencies or
from report" an' 'onFt look too much at the transparencies (occasional glances are
accepta(le to help in recalling the topic to co)er).
15-minute presentation can (e practice' se)eral times in a')ance" so 'o that until
&ou are confi'ent enough. ?ome people also use a mirror when rehearsing as a
su(stitute for an au'ience.
;e0.ta0e of T.eor8 G Pra1t1a/ Aspe1ts n Ass0nment No: , an! ;or2s.op
Presentatons+
ssignment !o. 2 an' workshop presentations are e)aluate' on the (asis of theor& an' its
applica(ilit&. The weightage of each aspect woul' (e:
Theor&: >,G
pplica(ilit& (practical stu'& of the organi1ation): #,G
#
TA#ATION MANA$EMENT (%&'"
(OURSE OUTLINE
Unt -+ INTRODU(TION TO IN(OME TA#, )ISTORY AND PROSPE(TIVE
1. %ntro'uction to Taxation
H Categories of @e)enue
H @e8uirements for a Ioo' Tax ?tructure
H !ature of Tax Bur'en
H /TO an' Tax
2. %ncome Tax =aw in 2akistan
H %ncome Tax @eform Commission
H ?cope of %ncome Tax =aw
H %ncome Tax Or'inance (as men'e')
J Bxtent of %ncome Tax Or'inance (as men'e')
J Components of %ncome Tax =aw
a) %ncome Tax Or'inance (as men'e')
() %ncome Tax @ules
c) !otification" %nstructions an' Or'ers
') %ncome Tax Case =aw
e) $inance ct or %ncome Or'inance
3. =egal +efinitions of 0arious Terms an' Concepts use' in the Or'inance
e.g. griculture %ncome" ssessment" Compan& %n'i)i'ual etc.
#. 2ersons an' %ncome which are Bxempt from Tax un'er %ncome Tax
Or'inance e.g. griculture %ncome" ?alar& of Bmplo&ees of $oreign
Io)ernment" 2ensions etc.
Unt ,+ IN(OME TA# ORDINAN(E
1. 2ersons an' %ncome which are Bxempt from Tax un'er %ncome Tax
Or'inance e.g. griculture %ncome" ?alar& of Bmplo&ees of $oreign
Io)ernment" 2ensions etc.
2. 7ea's of %ncome - %
a) %ncome from ?alaries
H $eatures of ?alar& %ncome
H 2er8uisites
H Bxemptions
H Tax Computation
H @e'uction in Tax =ia(ilit&
H ?pecial @elief for Teachers an' @esearchers
H ?pecial @e(ate for ?enior Citi1ens
H )erage @elief
b) %ncome from 7ouse 2ropert&
H Computation of @ent mount
H Bxempte' %ncome from 2ropert&
H Dna'3uste' ')ance @ecei)e' (& Owner
H =ia(ilit& in Case of Co-Owner
H +e'uctions
5
Unt &+ IN(OME TA# ORDINAN(E
1. 7ea's of %ncome - %%
a) %ncome from Business or 2rofession
H Taxa(ilit& of Business %ncome
H %ncome from Business Bxempt from Tax
H %ncome from Business not Taxa(le
H 'missi(le +e'uctions
() Capital Iains
H Computation of Capital Iains
H +e'uction of Capital =osses
H Bxempte' Capital Iains
c) %ncome from other ?ources
Unt D+ IN(OME TA# ORDINAN(E
1. Capital an' @e)enue
H +ifferentiation
H Capital C @e)enue Bxpen'itures
H Capital an' @e)enue @eceipts
2. +epreciation
Con'itions for llow (ilit& of +epreciation
@ates for Computation of +epreciation llowance
3. ?et off an' Carr& $orwar' of =osses
Unt %+ IN(OME TA# ORDINAN(E
1. ssessment 2roce'ure
a. C&cle of ssessment
(. =egal 2ro)isions @egar'ing $iling of @eturn of %ncome.
c. 0arious t&pes of ssessments 2ro)i'e' in %ncome Tax or'inance
'. Eo'e of 2a&ment of Tax (+e'uction of Tax at ?ource" ')ance
2a&ment of Tax" 2a&ment of Tax at the Time of $iling the @eturn"
2a&ment of Tax in +eman')
e. @eco)er& of Tax (& %ncome Tax Officer
f. 2roce'ure for @efun' of Tax
2. ?implifie' 2roce'ure of ssessment (self ssessment ?cheme)
a. !ew ?implifie' 2roce'ure
(. Taxation Eeasure pplie' !ew ?implifie' 2roce'ure
3. 2enalties Offenses an' 2rosecutions
Unt H+ IN(OME TA# AUT)ORITIES
1. %ncome Tax uthorities
H 7ierarch&
H $unctions of %ncome Tax uthorities
H 2owers 0este' in the 7an's of %ncome Tax authorities
H $unctions an' 2owers of $e'eral Boar' of @e)enue ($B@)
2. ppeals an' @e)isions
3. Eiscellaneous
a. +ocuments" Certificates etc. to (e furnishe' (& Certain Companies
(. /ealth ?tatement
'. Tax or @efun' to (e Calculate' to the !earest @upee
e. @atification of Eistakes
f. 2ower to Eake @ules
>
Unt I+ (USTOMS A(T an! (ENTRAL E#(ISE A(T AND RULES
(ustoms A1t
H +efinitions
H =e)& of Bxemption from an' @epa&ment of Custom +uties
H +raw(acks
H ppointment of Officers of Customs an' their 2owers
H Offences an' 2enalties
H ppeals an' @e)isions
(entra/ EB1se A1t an! Ru/es
H +efinitions
H +uties to (e =e)ie' an' @elate' 2ro)isions
H Bxemptions
H Offences an' 2enalties
H 2ower of '3u'ication
H ppeals an' @e)ision
Unt 4+ SALES TA#9I
H 7istor& an' %ntro'uction of ?ales Tax in 2akistan
H ?cope of ?ales Tax
H Knowle'ge @egar'ing ?ales Tax ct an' ?u(se8uent men'ments
H =egal +efinitions of 0arious Terms an' Concepts use' in ?ales Tax ct
H @egistration for ?ales Tax
H Charge of ?ales Tax an' Bxemptions for ?ales Tax
H ppointment of Officers of ?ales Tax an' their 2owers
Unt E+ SALES TA#9II
H Bxemptions 2ro)i'e' in ?ales Tax
H %ssuance of =icenses
H ssessment 2roce'ures
H 2a&ment an' @eco)er& of Tax
H ppeals C @e)ision 2roce'ures an' @eferences to 7igh Court
H Eaintenance" 2ro'uction an' %nspection of ccounts
H 2enalties" Offenses an' 2rosecutions
H @efun's
H Tax not ssesse' an' @ectification of Eistakes
BOO*S RE(OMMENDED+
=atest B'itions of the following 2u(lications:
1. %ncome Tax (2rinciples C 2ractice): B& Euhamma' Eua11am Eughal.
2. ?ales Tax Central Bxcise an' Custom +ut& Lakat an' Dshr: B& Euhamma'
Eua11am Eughal
3. %ncome Tax =aw with 2ractical 2ro(lem: B& 2rof. +r. Khawa3a m3a' ?aee'.
#. Complete %ncome Tax =aw: B& ?.. ?alam.
5. %ncome Tax =aw: B& =u8man Baig.
>. %ncome Tax Or'inance: B& Io)ernment of 2akistan
:. ?ales Tax ct: B& Io)ernment of 2akistan
;. ?tu'ents are expecte' to @ea' 2erio'icals an' +ail& for the @efinement of their
Knowle'ge.
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